Mongolian mining family snaps up US$31.5 million Hong Kong home with retirement in view

The family behind one of Mongolia’s largest mining conglomerates has bought a detached house in Hong Kong’s upmarket Southern district for HK$247 million (US$31.5 million), with the buyer intending to use it as a “retirement residence”. Land Registry records showed Tisara Holdings, whose director is Tselmuun Nyamtaishir, signed a provisional agreement on January 29 to acquire House 5 in One Stanley at 128 Wong Ma Kok Road. Nyamtaishir is the president and CEO of Mongolyn Alt (MAK), a...